India eyes becoming a green hydrogen superpower, can US$92 billion get it there?
India is on a mission to create half a million jobs and slash its reliance on fossil fuel imports. But it still has some hurdles to clear
But can the country overcome the economic and technical hurdles standing in its way?
“We want to make India not only a major producer but also a global hub for green hydrogen export,” declared Shripad Naik, minister of state for power and new and renewable energy, at a business conference in New Delhi last week.
Under its National Green Hydrogen Mission, launched in 2023, India aims to capture 10 per cent of the world market and produce 5 million tonnes of the fuel annually by 2030.
The programme also envisages nearly US$92 billion in investment, the creation of half a million jobs and a reduction of US$11 billion in fossil fuel imports – plus a cut of 50 million tonnes of carbon emissions each year.
Naik said that progress was already visible: contracts for 862,000 tonnes of production capacity had been awarded to 19 companies, alongside 3,000 megawatts of electrolyser manufacturing capacity to 15 companies since the mission’s launch.